Petrol Nears Rs 85 Mark In Delhi, Diesel Closer To Rs 82 In Mumbai

Petrol price in New Delhi neared the Rs 85 a litre mark while diesel rates in Mumbai were close to Rs 82 as fuel prices were raised by 25 paise per litre each on Monday.

Petrol now costs a record high of Rs 84.95 per litre in Delhi while diesel comes for Rs 75.13, according to a price notification from oil marketing companies.

The price hike on Monday came after three days of unchanged rates.

Prices were last hiked by 50 paise a litre in two instalments on Jan. 13 and 14.

In Mumbai, the price of petrol soared to an all-time high of Rs 91.56 a litre while diesel rates went up to Rs 81.87.

Petrol price in Mumbai breached the previous high of Rs 91.34 hit on Oct. 4, 2018, while diesel too is at a record high.

State-owned fuel retailers -- Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd. and Hindustan Petroleum Corporation Ltd. -- had on Jan. 6 resumed daily price revisions after nearly a month-long hiatus.

The highest-ever rate of diesel in Delhi was on Oct. 4, 2018, when it touched Rs 75.45 a litre mark. On that day, petrol was priced at Rs 84.

Excise duty totals Rs 32.98 per litre in petrol and Rs 31.83 in diesel. VAT in Delhi totals to Rs 19.32 a litre on petrol and Rs 10.85 on diesel.

With international oil prices rebounding from the lows of April, retail rates in India too were revised. Since May 2020, petrol price has risen by Rs 15.29 per litre and diesel by Rs 12.84, price notifications of oil companies showed.